With regard to political and civil freedoms, Ukraine is 2. Citizens in Ukraine experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Ukraine, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The businesses of Ukraine are 5 in terms of economic liberty. Citizens in Ukraine are considered not free with regards to their economic decisions. The government prohibits all economic activities by citizens, and some illegal business activities could be punishable by imprisonment or even death. Investors should avoid countries that are not free economically, as the risks do not justify any potential gain. In terms of journalistic freedom, the media of Ukraine is in a 4. In Ukraine, journalists face a very serious situation. Censorship dominates all publications and the government controls the majority of media outlets. Journalists that express opinions against the government may be punished with fines, imprisonment, or death.
It is now common practice to establish trusts in tax haven jurisdictions. Not many clients, however, are aware of the advantages that UK-established trusts can bring. The idea of a UK trust is especially attractive when beneficiaries and settlors are located in Europe or other onshore countries and do not wish the transfer of property to be associated with tax havens. Moreover, the law of England (under which the trusts get incorporated) confer the confidence and security of the UK legal system. A trust established in the UK offers reliability and reputation to its owners.
The first trustee of a trust established under the Law of England and Wales must be a UK-resident individual or company. In most cases, the trustee is a professional and licensed UK trust services provider.
Cyprus is considered an ideal location for starting a business for many reasons. Geographical location is one; This magnificent island is conveniently located at the crossroads of Europe, Africa and Asia. In addition, its proximity to the wealthiest countries in the Middle East gives Cyprus a serious advantage and contributes to a accommodating environment for starting a business. The widespread use of English in all walks of life attracts business people from all over the world. About 80% of the population is fluent in English.
In terms of legislation, Cyprus investment policy changed significantly in 2000 when the minimum level of foreign investment in Cypriot companies for EU citizens was abolished (in 2004 this restriction was also lifted for non-EU citizens). It is worth noting that the government of Cyprus allows 100% foreign ownership in local companies for third country investors. In terms of taxes, Cyprus is an attractive economy: the corporate tax rate is one of the lowest in Europe at 12.5%. In addition, Cyprus has signed double tax treaties with more than 40 countries to avoid double taxation. Cyprus is an attractive offshore zone due to the very friendly relations between investors and tax authorities. All these factors create a welcoming business environment on the island.
Company formation is a very popular service in Cyprus, not least because of the simplicity of the bureaucratic procedures and ease of opening a bank account. Statistics show that in 2016 more than 200,000 new companies were registered in the country. As a location for a holding company, Cyprus also has many advantages – but first you need to understand what holding companies are and what purposes they can be used for. In short, a holding company is a company that owns enough stock in another company to control its management and policies. Holding companies are used by the owners of real estate, brands and other assets. Forming a holding company is quick and easy; Your presence is not required and the procedure can be completed by email or by post. A holding company also allows nominees. VAT applicable to Cyprus resident holding companies is only 19% and there is 0% tax on incoming and outgoing dividends.
A Cyprus resident holding company can distribute profits to non-resident shareholders entirely tax-free, while corporate income tax on intellectual property income is only 2%. Welcome to Paradise!
Incorporating a company in Cyprus usually takes around 15-20 days. First you need to get your company name approved by the Registrar of Companies who will ensure it is not already in use; This takes 3-5 business days. Then you can register your company. The entire registration process takes about 5-8 business days. The following documents are required: a copy of your passport, a confirmation of personal details, photos, a document showing the place of residence of each shareholder and a certificate of registered office. Directors are required to provide certain information related to their professions. Remember that according to Cyprus law, at least one director and one company secretary should be appointed.
It is possible to open a bank account in Cyprus whether you are a Cyprus resident or not and this can be done through an overseas branch of a Cypriot bank. In order to proceed, you will need to provide the following documents, either original or apostilled: passport, proof of residential address (such as a utility bill), and a bank reference. The main benefit is that opening a bank account is quick and easy. The account opening costs are very low if we compare Cyprus with other EU countries. Also, any natural or legal person can open a bank account in Cyprus. This gives you a Visa card that is valid worldwide, internet banking, security, anonymity and many other advantages. In addition, there are no minimum deposit requirements and bank fees for money transfers are low. Interest in registering companies in Cyprus continues to grow. More and more foreign companies and investors are discovering the advantages of the business environment of this beautiful country. Don't miss your opportunity.
Panama is a very attractive place for business for many reasons. It is an ideal location for business owners seeking business, financial or personal privacy. Panama is known for its international companies and attractive tax system. The government of Panama strives to encourage and support foreign investment - there are no restrictions on foreign capital. Also, Panama has the fastest growing economy in Central America.
Doing business in Panama has many advantages. First of all, Panama is an independent jurisdiction with a high level of data protection. If you incorporate your business in Panama, you are exempt from all local taxes on income earned outside of Panama. In addition, Panama has a well-developed professional infrastructure and financial services industry. It should be emphasized that Panama also has an excellent telecommunications system and having your business located in this fabulous country gives you easy flight access to North and South America. All these factors have contributed to the increased presence of international companies in recent years. There are specific legal forms for companies in Panama, which are described below.
The Limited Liability Company (sociedad anónima) is the most popular corporate form in Panama and the most common choice for offshore operations. Only one shareholder is required to form a company, but a minimum of three directors must be appointed before the company can transact business. A major advantage of the stock corporation is that there are no deposit requirements and no minimum capital requirements. Shares in a sociedad anónima may be bearer or registered, with or without value, and may be of different classes. Strict regulations apply to bearer shares: Registered Agents are obliged to place the bearer share certificate in authorized custody. After paying capital tax (minimum $60) and an annual registration fee ($300), the Public Registry Office registers the corporation. All industrial and commercial companies should have an "operating display" costing 2% of the company's net worth.
A limited liability company (sociedad de responsabilidad limitada) should have at least two and no more than twenty partners. There are no restrictions on the nationality of the partners, but their first and last names and personal data must be registered with the public registry, as well as the amount of capital paid into the company by each partner. The articles of association must contain the following information: name and address of the partners, duration of the company, address, general purpose of the company, authorized capital and named resident representative (law firm or lawyer). If the number of partners is fewer than five, the Society is not required to hold meetings, but in general the partners should hold a meeting at least once a year. This particular legal structure requires $2,000 to $500,000 in capital. There are no special requirements for the filing of annual accounts or financial statements.
A general partnership (sociedad en nombre colectivo) is another option in Panama. The members of a sociedad en nombre colectivo have unlimited liability, which means that each member can be held liable and sued if another member acts fraudulently or negligently while conducting business on behalf of the general partnership. Of course, all partners are jointly and severally liable for business debts. Open partnerships do not have to pay taxes on income they receive from outside of Panama (even if that income is deposited in the country). In addition, they should not pay local capital taxes, although they are subject to local taxes if they operate a business or own real estate in Panama.
The simple limited partnership (sociedad en comandita simple) is basically a mixture of a partnership and a corporation. This special legal form requires at least one shareholder. It is also known as a simple partnership and the partners are liable up to a percentage equal to what they brought or invested in the company. The main advantage of this type of company is that income earned outside of Panama is not taxed. The sociedad en comandita simple is rarely used these days.
Confidus Solutions deals with not only offshore companies and banking, but also provides all necessary business support services. Our professional team is much more than traditional bookkeeping agencies or company formation agents. We can ensure all required support, including legal framework and personal assistance, and these are things that provide our clients with comfort they deserve.
Our business support services include following offers, but are not limited to:
Legal address; Mail forwarding; Bank accounts opening; Translation services; Document legalization and verification; Business due diligence; Representation during negotiations; Consultations regarding insurance; Real estate purchase and due diligence; Legal advice on commercial law; Virtual office; Management office; Contract law. We highly value needs of our clients, so we can offer you more services on case-to-case basis. Even though our central office is located in Europe – our numerous co-operation partners around the globe can help us find unique solution in any part of the world!
Venezuela emits 6.4 metric tons per capita of CO2. 471378 km² of Venezuela's territory is covered in forests. and forest land comprises 52% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Venezuela is 23.